Apollo poaches distressed debt team from Credit Suisse

New York-based private equity firm Apollo Management has poached two distressed debt bankers from Credit Suisse’s leveraged finance department.

David Abrams, London-based head of non-performing loans, left Credit Suisse for Apollo Management earlier this month. Matthew Johnson, the bank’s Frankfurt-based managing director in German leveraged finance, has also left and is understood to have joined Apollo Management.

This follows the departure last week of Kevin Lydon, the bank’s head of distressed debt trading and co-head of special situations, who is understood to have joined Greenwich, Connecticut-based hedge fund Strategic Value Partners. Dermot Murphy has been promoted internally to replace Lydon as head of distressed debt trading.

Apollo Management declined to comment on the hires.